IndiaMART Q2 net profit zooms ~95% to ₹135 Crore

21 Oct 2024 , 10:14 AM

IndiaMART InterMESH Ltd, an online B2B marketplace and discovery platform, announced a 94.7% YoY increase in net profit to ₹135.1 Crore for the second quarter of 2024.

In the previous corresponding quarter, IndiaMART InterMESH logged a net profit of ₹69.4 Crore, according to a regulatory filing. The company said that its revenue from operations jumped by 48.8% to ₹347.7 Crore, from ₹294.7 Crore in the previous fiscal year.

EBITDA increased by 68.4% to ₹134.7 Crore in the second quarter of this fiscal year, up from ₹80 Crore in the same period last year.

The EBITDA margin was 38.7% in the reporting quarter, up from 27.2% in the same period last fiscal year. 

In Q2 of FY25, IndiaMART collected ₹356 Crore from clients, a 6% increase from the previous year. This comprises ₹337 Crore in standalone collections and ₹17 Crore from Busy Infotech. The company’s deferred revenue reached ₹1,483 Crore as of September 30, 2024, representing a 19% year-on-year rise.

IndiaMART’s standalone deferred revenue totalled ₹1,426 Crore, with Busy Infotech contributing ₹53 Crore. The company generated ₹103 Crore in cash flow from operations during the quarter. IndiaMART’s cash and investment balance was ₹2,449 Crore on September 30, 2024.

IndiaMART received 28 million unique business enquiries in Q2FY25, representing a 14% year-on-year increase. The number of supplier storefronts climbed by 5% year on year to 8 million, while paying suppliers increased to 218,000, resulting in a net gain of 2,400 subscribers during the quarter. 

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